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Denmark to raise retirement age to 70

telegraph.co.uk

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Re: Denmark to raise retirement age to 70

#221

Post by jl6 »

dsign wrote: post #206

There is an obvious solution to the problem of ageing population and declining birth rates. Furthermore, it's a solution everybody's secret soul wants very much: keep people younger for longer. Invent rejuvenation. But politicians would never dare go in front of cameras and say that they will put a dollar into R&D for such an outcome, because the wall of insults and disdain we would hurl, for no rational reason, at t…

Get disdainin’!:

https://www.gov.uk/government/speeches/adding-years-to-life-...

Re: Denmark to raise retirement age to 70

#222

Post by jopsen »

dsign wrote: post #206

There is an obvious solution to the problem of ageing population and declining birth rates. Furthermore, it's a solution everybody's secret soul wants very much: keep people younger for longer. Invent rejuvenation. But politicians would never dare go in front of cameras and say that they will put a dollar into R&D for such an outcome, because the wall of insults and disdain we would hurl, for no rational reason, at t…

> keep people younger for longer.

Is a lot easier than "rejuvenation", and a lot more attainable. And also something we do throw R&D money at.

Re: Denmark to raise retirement age to 70

#223

Post by ghaff »

YVoyiatzis wrote: post #133

Seventy might feel like fifty in Scandinavian cities where cycling is part of daily life—but try that in the U.S., and the idea of retirement quickly becomes a parody.

The US already has a retirement age of 70 depending upon how you figure it. As noted in sibling comment, depending upon various factors, that's the age it's generally recommended to start receiving social security benefits unless you want/need smaller payouts sooner. Medicare starts at 65 however. IRAs don't require you to take distributions until you're 73.

Re: Denmark to raise retirement age to 70

#224

Post by risyachka »

cbeach wrote: post #46
CubsFan1060 wrote: post #23

Earlier quoted context omitted.

Wouldn't the fourth way be via increasing either birth rate or immigration?

Raising immigration rates to solve an aging population is a Ponzi solution.

In the modern economy system there is no way around it.

The more old people there is the more taxes you need.

More taxes - economy must grow. And it can’t grow if working population is shrinking

Re: Denmark to raise retirement age to 70

#225

Post by mmooss »

tossandthrow wrote: post #11
dtgm92 wrote: post #9

This is because of their low birth rate primarily right? I think the system has failed at this point, when you are expected to work that long.

It is. And this is the case in all western countries. It is just being realized in different ways. Fundamentalle there are 3 ways to cope 1. reduce pensions 2. Raise taxes 3. Decrease amount of benefit receivers. Denmark choose number 3

That omits the essential fact that economies tend to grow - quite a bit over your lifetime. 2% compounded annual growth over 50 years will result in the economy being 2.7x its starting size.

Re: Denmark to raise retirement age to 70

#226

Post by Calavar »

reliabilityguy wrote: post #149
bombcar wrote: post #138

Earlier quoted context omitted.

There are quite a few highly paid professions where the main purpose of that profession’s union seems to be to prevent there being an adequate supply of the professionals.

Like med schools in the US

The US docotor shortage is a myth. Wait times are the result of beauracratic nonsense has reduced the efficiency of the existing physician workforce [1, 2].

[1] https://jamanetwork.com/journals/jama/article-abstract/26132...

[2] https://hbr.org/2020/03/the-problem-with-u-s-health-care-isn...

Re: Denmark to raise retirement age to 70

#227

Post by mmooss »

telotortium wrote: post #115
CubsFan1060 wrote: post #23

Earlier quoted context omitted.

Wouldn't the fourth way be via increasing either birth rate or immigration?

There's not enough immigrants that actually are of financial benefit to Denmark. Only European immigrants are a large financial benefit throughout their lifespan, and Middle Eastern immigrants are a financial detriment even in their prime working years[0]. That is apart from the cultural effects of having a large portion of your population consist of non-Danish, and especially non-European immigrants, which might hav…

It turns out that economic productivity is not tied to ethnicity or where you are from - fundamentally racist notions - but to how productive you are.

Re: Denmark to raise retirement age to 70

#228

Post by CamperBob2 »

robaato wrote: post #186
tossandthrow wrote: post #11

Earlier quoted context omitted.

It is. And this is the case in all western countries. It is just being realized in different ways. Fundamentalle there are 3 ways to cope 1. reduce pensions 2. Raise taxes 3. Decrease amount of benefit receivers. Denmark choose number 3

No 4 - do like Norway: https://en.wikipedia.org/wiki/Government_Pension_Fund_of_Nor...

You forgot step -1: Use time machine constructed in step 3.5 to seed nearby oceans with phytoplankton and other organic carbon reservoirs

Re: Denmark to raise retirement age to 70

#229

Post by mattlondon »

pfdietz wrote: post #55
CubsFan1060 wrote: post #23

Earlier quoted context omitted.

Wouldn't the fourth way be via increasing either birth rate or immigration?

The total fertility rate (number of children per woman) seems stubborn against attempts to raise it. I suggest instead altering the male/female ratio, so a stable or growing population can be maintained at lower TFR. Technically, filter sperm to remove those with Y chromosomes before artificial insemination.

At least in the UK the cost of childcare is a major factor putting people off.

People simply can't afford to send a kid to pre-school childcare because it's 2 or 3 thousand GBP per month. So you have to stay at home to look after them, but then you can't afford the rent/mortgage and/or food because you're not working. Woe betide you if you earn over 1 penny over 100K GBP because then you get zero help with costs.

They need to provide more government funded (i.e. universally free non-means-tested) pre-schooling like they do for 5-18 year olds.

Re: Denmark to raise retirement age to 70

#230

Post by IshKebab »

WA wrote: post #14
deanc wrote: post #4

I’m not sure how I feel about this. I’m based in the Nordics and my estimated retirement age at the moment (where I can get my state pension) is 67y 4m. Whilst I understand the burden the aging population is having on society (lifespan) it doesn’t seem like there’s much proactive government input into people’s healthspan. Maybe instead we should try investing in this area (reducing the burden on services) instead of…

It’s the other way around: a few decades ago people retired only a few years earlier, had 5-10 years of retirement and then died. Now people live way longer, but the retirement age never got adjusted properly to the new reality. So 15-20 years of retirement is the new normal. In addition, way fewer young payers for the now old.

Also the actual pension payments have gone up massively. Almost doubled in the last 30 years in the UK.

https://www.gov.uk/government/statistics/pensioners-incomes-...

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